{"id":5267,"date":"2023-09-29T10:28:32","date_gmt":"2023-09-29T10:28:32","guid":{"rendered":"https:\/\/decentro.tech\/blog\/?p=5267"},"modified":"2025-01-14T11:25:11","modified_gmt":"2025-01-14T11:25:11","slug":"baya-case-study","status":"publish","type":"post","link":"https:\/\/decentro.tech\/blog\/baya-case-study\/","title":{"rendered":"How Decentro is Enabling Baya Redefine B2B Receivables Processes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/decentro.tech\/blog\/baya-case-study\/#What_is_Baya\" title=\"What is Baya?\">What is Baya?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/decentro.tech\/blog\/baya-case-study\/#How_does_Baya_work\" title=\"How does Baya work?\">How does Baya work?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/decentro.tech\/blog\/baya-case-study\/#What_were_Bayas_Key_Challenges\" title=\"What were Baya\u2019s Key Challenges?\">What were Baya\u2019s Key Challenges?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/decentro.tech\/blog\/baya-case-study\/#How_did_Decentro_empower_Baya\" title=\"How did Decentro empower Baya?\">How did Decentro empower Baya?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/decentro.tech\/blog\/baya-case-study\/#What_were_the_key_outcomes_for_Baya\" title=\"What were the key outcomes for Baya?\">What were the key outcomes for Baya?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/decentro.tech\/blog\/baya-case-study\/#In_Conclusion\" title=\"In Conclusion\">In Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<figure class=\"wp-block-image size-large featured-post-img\"><img loading=\"lazy\" width=\"1779\" height=\"1779\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How-Decentro-is-Enabling-Baya-Redefine-B2B-Receivables-Processes.jpg\" alt=\"Baya\" class=\"wp-image-6187\"\/><\/figure>\n\n\n\n<p>The Small and Medium Enterprises [SME] sector is poised to be the key to unlocking India\u2019s economic development, and rightfully so.<\/p>\n\n\n\n<p><strong><em>The Ministry of MSME\u2019s annual report for 2020-21 said that India has approximately 6.33 crore MSMEs that contribute significantly to the country\u2019s productivity and employment.<\/em><\/strong> The employment of the roots is what this sector is often referred to.&nbsp; As of March 2023, there were 43M GST-registered, active businesses in India.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"3541\" height=\"1112\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Ministry_of_MSMEs_annual_report_for_2020-21.jpg\" alt=\"Numbers stating the MSME's economic pull in India\" class=\"wp-image-5269\"\/><\/figure>\n\n\n\n<p>However, despite its significance and reach, the struggle to acquire credit, among other roadblocks such as effective collections and reconciliations, has hampered the sector\u2019s growth.<\/p>\n\n\n\n<p>So why does this gap exist? The answer is straightforward.&nbsp;<\/p>\n\n\n\n<p>The sector is so vast, more times than not, it doesn\u2019t fit into the blueprint of what a traditional process of collections or credit access would look like.&nbsp;<\/p>\n\n\n\n<p>Additionally, there is a shortage of players that address all the critical pain points faced by the sector, namely <strong>Managing Contracts, Managing&nbsp; Invoices, Collecting payments and reconciliations<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Pain_Points_of_SME_Sector.jpg\" alt=\"creative shocasing the pain points of the SME sector\" class=\"wp-image-5270\" width=\"468\" height=\"435\"\/><\/figure><\/div>\n\n\n\n<p>&nbsp;This is where a player like Baya is poised to disrupt the SME landscape. Let\u2019s see how this innovative solution that helps businesses manage the entire lifecycle: Contracts, Invoices, Payments, Reconciliations and Credit, plans to execute its vision.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_is_Baya\"><\/span>What is Baya?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Built purely to enable SME owners to reach their full potential, <a href=\"https:\/\/baya.biz\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Baya<\/a>, with its fintech background, is a back-office payment automation software for SME owners so they can focus on what matters most, i.e. Growth and Service Quality.&nbsp; Designed for Service Providers, Baya is a unified platform to manage contracts, invoices, payments, reconciliation and access to credit. From managing collections and monitoring receivables, the platform becomes a one-stop shop for all collections needs so business owners can remain focused on boosting cash flow and delivering quality services.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"2878\" height=\"1400\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screenshot-2023-09-29-at-4.10.53-PM.png\" alt=\"screenshot of Baya's website\" class=\"wp-image-5281\"\/><\/figure>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_does_Baya_work\"><\/span>How does Baya work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How_does_Baya_work-.jpg\" alt=\"A creative showcasing the working of Baya \"\/><\/figure>\n\n\n\n<p>The first product, <strong>\u201cGetPaid&#8221;<\/strong> was launched with the vision of redefining how SMEs collect B2B invoice payments. This required a process that enables onboarding faster and serves the collection cycle of high volume and ticket size transactions. Baya serves the two points by deploying a process that automates the payment cycle, providing seamless and exceptional service to the vendors. <\/p>\n\n\n\n<p>Another product, \u201c<strong>Get Advance<\/strong>\u201d, followed shortly thereafter to facilitate credit access instantly.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_were_Bayas_Key_Challenges\"><\/span>What were Baya\u2019s Key Challenges?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Baya_s_Key_Challenges.jpg\" alt=\"creative showcasing the key challenges Baya faced\"\/><\/figure>\n\n\n\n<p>The SME landscape is tricky. With this focus group expanding to the length and breadth of the country, collections and reconciliation are generally challenging. In addition to that, any platform that enables processes for such a broad spectrum will need to dedicate valuable hours and resources to keeping track of these transactions.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Between high-volume merchant onboarding and disbursals and recollections, Baya hit a significant roadblock when onboarding users in the following places.&nbsp;<\/p>\n\n\n\n<ul><li>Verification module&nbsp;<\/li><li>An Effective Collection Tool&nbsp;<\/li><li>Keeping Track of Recurring Transactions<\/li><\/ul>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_did_Decentro_empower_Baya\"><\/span>How did Decentro empower Baya?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How_did_Decentro_empower_Baya-.jpg\" alt=\"creative showcasing the APIs that enabled Baya\"\/><\/figure>\n\n\n\n<p>Navigating the complex, heavily regulated finance sector and providing quick access to capital to vendors were crucial challenges faced by Baya, pushing them to partner with Decentro to leverage our APIs for the following outcomes:&nbsp;<\/p>\n\n\n\n<h3>Single Point KYC checks<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"976\" height=\"452\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/decentro-kyc-module-1-1.png\" alt=\"Decentro's KYC Stack\" class=\"wp-image-5290\"\/><figcaption>Decentro&#8217;s KYC Stack<\/figcaption><\/figure>\n\n\n\n<p>While dealing with vendors, background checks are crucial for any platform.&nbsp;<\/p>\n\n\n\n<p>With Decentro\u2019s single end-point for <a href=\"https:\/\/decentro.tech\/products\/kyc-onboarding\" target=\"_blank\" rel=\"noreferrer noopener\">KYC APIs<\/a>, Baya set seamless onboarding flows to offer smooth and secure user onboarding. With single-point access to various data points such as <strong>PAN, Aadhaar, Driving License, Voter ID<\/strong>, and more, Baya onboards users in real-time and automates the KYC process once and for all.&nbsp;<\/p>\n\n\n\n<h3>Virtual Accounts for Collections and Payout<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1146\" height=\"346\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/payment-reconcilation-virtual-accounts-decentro-1-1-1.png\" alt=\"Decentro's Virtual Account Flow\" class=\"wp-image-5289\"\/><figcaption>Decentro&#8217;s Virtual Account Flow<\/figcaption><\/figure>\n\n\n\n<p>The challenge of enabling funds collection, bookkeeping, reconciliation, and payouts was also solved by Baya by issuing <strong>Virtual Bank Wallets for their vendors using the<\/strong> <a href=\"https:\/\/decentro.tech\/products\/virtual-accounts\" target=\"_blank\" rel=\"noreferrer noopener\">Virtual Accounts API<\/a>. Eliminating the expending time, effort, and capital for managing fund collections and payments, Baya leveraged the efficiency of VAs for each business on their roster without any hassle.<\/p>\n\n\n\n<h3>E-NACH for Periodic Recollection&nbsp;<\/h3>\n\n\n\n<p>Baya also set up recurring payment mandates through <a href=\"https:\/\/decentro.tech\/resources\/enach-apis\" target=\"_blank\" rel=\"noreferrer noopener\">eNACH<\/a> to recollect money periodically. The primary underlying objective of e-Nach here is to help businesses on Baya\u2019s roster reduce the follow-up time for recurring transactions. <\/p>\n\n\n\n<p>Decentro&#8217;s e-NACH APIs come with a one-time authorization of the mandate and post that recurring payments are automatically debited from users&#8217; accounts, reducing time spent on recollections.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_were_the_key_outcomes_for_Baya\"><\/span>What were the key outcomes for Baya?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>By leveraging Decentro\u2019s API for banking integrations, Baya has simplified the payment collection process and drove the following results.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"3956\" height=\"1150\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Decentro_X_Baya_Outcomes.jpg\" alt=\"Creative Showcasing the outcomes of Baya X Decentro Partnership\" class=\"wp-image-5274\"\/><\/figure>\n\n\n\n<ul><li>Average Transaction Value of<strong> \u20b9500,000&nbsp;<\/strong><\/li><li>Successfully collected<strong> &gt;\u20b950cr <\/strong>of invoices on the platform as of September 2023<\/li><li><strong>10X<\/strong> faster integration timelines.&nbsp;<\/li><li>Decentro\u2019s improved compliance has allowed Baya to eliminate many reconciliations at the backend.<\/li><li>Availed Decentro\u2019s multi-channel customer support for any queries or resolution<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Reshaping the SME landscape with Baya | Testimonial | Decentro Talkies\" width=\"1250\" height=\"703\" src=\"https:\/\/www.youtube.com\/embed\/2gWkn8j5QRg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"In_Conclusion\"><\/span>In Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The aim to empower fintech players has found its fruition through our partners. That\u2019s precisely what our simplified banking APIs are here for! Not just Baya but Decentro has enabled major companies \u2013 notably <a href=\"https:\/\/decentro.tech\/blog\/streamlining-credit-for-consumers-by-10x-with-moneytap\/\" target=\"_blank\" rel=\"noreferrer noopener\">MoneyTap<\/a>,&nbsp; <a href=\"https:\/\/decentro.tech\/blog\/cashe-case-study\/\" target=\"_blank\" rel=\"noreferrer noopener\">CashE<\/a> and others \u2013 to facilitate a better user transaction experience with sharper expense tracking, better compliance, and improved reconciliation. <\/p>\n\n\n\n<p>Decentro\u2019s API offers a plug-and-play solution to your banking integration needs and covers all compliances. Whether your business requires extended credit with custom <a href=\"https:\/\/decentro.tech\/products\/lending\" target=\"_blank\" rel=\"noreferrer noopener\">Buy Now, Pay Later<\/a> or ensuring thorough verifications via KYC, Decentro has surrounded you with a suite of banking APIs.<\/p>\n\n\n\n<p>With efficiency being our promise, feel free to reach out if your business wants to solve a use case involving anything linked to banking. We\u2019re all ears!<\/p>\n\n\n\n<p><a class=\"decentro-homepage-signup\" href=\"https:\/\/decentro.tech\/signup?\" target=\"_blank\" rel=\"noreferrer noopener\">Let&#8217;s Connect<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Decentro enables Baya&#8217;s vision of redefining the B2B payment collection processes for SMEs. 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